Shane Coplan, the CEO and founder of Polymarket, emphasized the strict neutrality of the decentralized prediction platform ahead of the upcoming U.S. presidential elections.

Given the latest New York Times article on Polymarket, this seems like a good time to make clear:

• Polymarket is strictly non-partisan. We get told we're Dem operatives and MAGA, depending on the day. Unfortunately the story is much less juicy, we're just market nerds who… pic.twitter.com/jz87JiO6AH
— Shayne Coplan (@shayne_coplan) October 25, 2024

“In light of the recent article from The New York Times about Polymarket, I want to clarify: we are fully neutral. Sometimes we are called agents of the Democrats, sometimes MAGA — depending on the mood of the day. But it’s much simpler than that: we’re just market data enthusiasts, believing that prediction markets can offer valuable alternative sources of information for society,” he stated.

Coplan also described Polymarket as “reality without filters,” in contrast to platforms where algorithms adapt to users’ habits, amplifying the echo chamber effect.

“Polymarket is not about politics. Our mission from the start has been to use the power of free markets to understand significant events. In this U.S. election cycle, we’ve been noticed more because people are tired of personalized news feeds, expert opinions, and disconnected-from-reality polls,” he added.

According to him, the growing popularity of the platform is partially tied to the prediction of incumbent president Joe Biden possibly exiting the race. Coplan hopes that people will begin to see the value of market predictions in politics.

“It sounds crazy that I have to say this, but it’s time to stop the discussions about Peter Thiel’s influence. He has no direct involvement or control over the company. Founders Fund, one of our largest investors, holds only a minority stake and is not on the board of directors. The deal with Polymarket was made by another partner of the fund, not Thiel. His political views have nothing to do with our work,” he emphasized.

Coplan also noted that the platform’s main advantages remain transparency and decentralization.